UPDATE: Bank of America Downgrades Salix Pharmaceuticals, Keeps PO


Crypto Whales Are Loading Up — Are You?

New research shows the biggest crypto buyers are back. And this time? They could hold for the possibility that Bitcoin will surpass $100,000 in 2024. You don’t want to miss the next massive crypto bull run like we saw in 2020 and 2021. To know exactly what’s going on and what to buy… Get Access To Benzinga’s Best Crypto Research and Investments For Only $1.


In a report published Tuesday, Bank of America Merrill Lynch analyst Gregg Gilbert downgraded

Crypto Whales Are Loading Up — Are You?

New research shows the biggest crypto buyers are back. And this time? They could hold for the possibility that Bitcoin will surpass $100,000 in 2024. You don’t want to miss the next massive crypto bull run like we saw in 2020 and 2021. To know exactly what’s going on and what to buy… Get Access To Benzinga’s Best Crypto Research and Investments For Only $1.


ENTER TO WIN $500 IN STOCK OR CRYPTO

Enter your email and you'll also get Benzinga's ultimate morning update AND a free $30 gift card and more!

Salix Pharmaceuticals (NASDAQ: SLXP) to Underperform from Neutral, keeping its $86.00 price objective. According to the report, SLXP's base business has been performing well, led by continued solix Xifaxan growth for hepatic encephalopathy and strong share gains for Apriso following a disruptive competitor launch in the ulcerative colitis market. The analysts believe continued strong growth for both will be necessary to support the stock. “SLXP was one of the better performing stocks in 2013 within our Specialty Pharma coverage group with a 122% return,” the report said. “Over the last few months, we've raised our PO to reflect stronger performance for the base business, more credit for the late-stage pipeline, and significant contribution from the Santarus acquisition (announced on 11/7). With the stock now trading above our PO, which we believe reflects a relatively bullish set of assumptions, we are moving to an Underperform rating.”SLXP closed Monday at $90.43.
Posted In: Analyst ColorDowngradesAnalyst RatingsBank of America Merrill LynchGregg Gilbert